Yousif Capital Management LLC Sells 586 Shares of Bio-Techne Co. (NASDAQ:TECH)

Yousif Capital Management LLC lowered its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 3.0% during the fourth quarter, HoldingsChannel reports. The firm owned 18,673 shares of the biotechnology company’s stock after selling 586 shares during the quarter. Yousif Capital Management LLC’s holdings in Bio-Techne were worth $1,441,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cerity Partners LLC boosted its holdings in shares of Bio-Techne by 831.4% in the fourth quarter. Cerity Partners LLC now owns 46,205 shares of the biotechnology company’s stock valued at $3,565,000 after buying an additional 41,244 shares during the period. Andra AP fonden increased its holdings in Bio-Techne by 113.4% during the 3rd quarter. Andra AP fonden now owns 39,900 shares of the biotechnology company’s stock worth $2,716,000 after purchasing an additional 21,200 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Bio-Techne by 11.1% in the 3rd quarter. Deutsche Bank AG now owns 611,813 shares of the biotechnology company’s stock valued at $41,646,000 after purchasing an additional 61,190 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Bio-Techne by 7.8% in the fourth quarter. Nordea Investment Management AB now owns 10,494 shares of the biotechnology company’s stock valued at $815,000 after purchasing an additional 761 shares in the last quarter. Finally, Diversified Trust Co boosted its position in shares of Bio-Techne by 32.6% during the third quarter. Diversified Trust Co now owns 12,826 shares of the biotechnology company’s stock worth $873,000 after buying an additional 3,156 shares during the period. Institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TECH. Robert W. Baird lifted their target price on Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday. Scotiabank began coverage on shares of Bio-Techne in a report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Friday, February 2nd. Finally, Royal Bank of Canada decreased their price objective on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Bio-Techne Stock Up 2.9 %

Bio-Techne stock opened at $75.60 on Friday. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $89.91. The firm has a market capitalization of $11.88 billion, a PE ratio of 60.00, a P/E/G ratio of 9.14 and a beta of 1.23. The company’s 50-day moving average is $69.65 and its 200-day moving average is $68.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 3.03.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The firm had revenue of $303.43 million for the quarter, compared to the consensus estimate of $292.36 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. Sell-side analysts anticipate that Bio-Techne Co. will post 1.52 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be issued a $0.08 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Bio-Techne’s dividend payout ratio is currently 25.40%.

Insider Activity

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the transaction, the director now owns 43,097 shares in the company, valued at approximately $3,317,607.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.45% of the company’s stock.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.